Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
3,459,771 | 2,824,979 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
375,117 | 463,373 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current liabilities | (191,642) | (500,775) | ||
Total assets less current liabilities | 3,268,129 | 2,324,204 | ||
Creditors: amounts falling due after more than one year | 7 | (
|
(
|
|
Provision for liabilities | (
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 8 |
|
|
|
Share premium account |
|
|
||
Profit and loss account | (
|
(
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Klarian Limited (registered number:
Robert Clegg
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Klarian Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Computer software |
|
Development costs |
|
Trademarks, patents and licences |
|
Plant and machinery |
|
Office equipment |
|
Computer equipment |
|
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Computer software | Development costs | Trademarks, patents and licences |
Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 January 2022 |
|
|
|
|
|||
Additions |
|
|
|
|
|||
Disposals |
|
|
(
|
(
|
|||
At 31 December 2022 |
|
|
|
|
|||
Accumulated amortisation | |||||||
At 01 January 2022 |
|
|
|
|
|||
Charge for the financial year |
|
|
|
|
|||
Disposals |
|
|
(
|
(
|
|||
At 31 December 2022 |
|
|
|
|
|||
Net book value | |||||||
At 31 December 2022 |
|
|
|
|
|||
At 31 December 2021 |
|
|
|
|
Management do not yet consider development costs to be available for use and no amortisation has been charged.
Plant and machinery | Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 January 2022 |
|
|
|
|
|||
Additions |
|
|
|
|
|||
At 31 December 2022 |
|
|
|
|
|||
Accumulated depreciation | |||||||
At 01 January 2022 |
|
|
|
|
|||
Charge for the financial year |
|
|
|
|
|||
At 31 December 2022 |
|
|
|
|
|||
Net book value | |||||||
At 31 December 2022 |
|
|
|
|
|||
At 31 December 2021 |
|
|
|
|
2022 | 2021 | ||
£ | £ | ||
Prepayments |
|
|
|
VAT recoverable |
|
|
|
Other taxation and social security |
|
|
|
Other debtors |
|
|
|
|
|
2022 | 2021 | ||
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Trade creditors |
|
|
|
Other loans |
|
|
|
Accruals |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2022 | 2021 | ||
£ | £ | ||
Bank loans |
|
|
|
Other loans |
|
|
|
Other creditors |
|
|
|
307,666 | 423,075 |
2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
On 25 February 2022, 29,380 £0.01 shares were issued for a total consideration of £157,500
On 11 August 2022, 55,774 £0.01 shares were issued for a total consideration of £968,420
On 13 December 2022, 32,762 £0.01 shares were issued for a total consideration of £568,749
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
2022 | 2021 | ||
£ | £ | ||
- within one year |
|
|
|
- between one and five years |
|
|
|
|
|
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £24,424 (2021: £24,087). At 31 December 2022, there was £5,400 of unpaid contributions due to the fund included in other creditors (2021: £3,607).
Transactions with the entity's directors
During the year, the directors of the company maintained a current account with the company. At the year end, the company owed the directors £Nil (2021: £109,962). Interest has been charged where an agreement is in place and there are no set repayment terms.
During the year former directors of the company also maintained current accounts with the company. At the year end, the company owed the former directors £43,576 (2021: £101,834). Interest has been charged where an agreement is in place and there are no set repayment terms.